
What smart money is saying about PDF Solutions, Inc.
1 fund in our archive has pitched PDF Solutions, Inc. — most recently Riverwater Partners Small Cap Strategy in June 2026.
PDF Solutions, Inc. offers a comprehensive array of solutions to the semiconductor sector, encompassing proprietary software, physical intellectual property for integrated circuit designs, electrical measurement hardware, proven methodologies, and professional services. The company maintains a global presence, with significant operations in the United States, China, Japan, Taiwan, and other international regions. At the core of their software portfolio is the Exensio platform. This includes Manufacturing Analytics, which centralizes collected data, providing engineers with a consistent view to effectively identify and analyze production yield, performance, and reliability issues. Process Control delivers capabilities for failure detection, classification, and robust monitoring and management of manufacturing tool sets. Test Operations focuses on efficient data collection and analytical functionalities, while Assembly Operations is designed to seamlessly link assembly, packaging, fabrication, and characterization data throughout a product's entire lifespan. Beyond software, PDF Solutions provides advanced hardware and systems such as their design-for-inspection (DFI) Systems, featuring DFI on-chip instruments, and the eProbe, a non-contact E-beam tool. They also offer the Characterization Vehicle (CV) system, which comprises CV test chips, pdFasTest electrical testers, and specialized Exensio characterization software tailored to process measurements gathered from DFI on-chip instruments using the eProbe tool. Further enhancing their product suite are Cimetrix software products, which facilitate the implementation of industry-standard interfaces for equipment manufacturers. Their service offerings extend to software-as-a-service (SaaS) subscriptions, various software-related support, and dedicated characterization services. PDF Solutions engages a broad spectrum of clients—including integrated device manufacturers, fabless semiconductor companies, foundries, equipment manufacturers, electronics manufacturing suppliers, original device manufacturers, outsourced semiconductor assembly and test firms, and system houses—through a combination of direct sales, dedicated service teams, and strategic alliances. Established in 1991, the company's headquarters are located in Santa Clara, California.
Get an email when a fund writes about it
Position history
Every position in PDF Solutions, Inc. on record in the archive was reported in Q2 2026, across 2 fund letters — 1 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2026 | 2 | 0 | 1 | 1 |
Fund activity · 2 positions · 1 move
- June 2026
“Alongside Soitec and ASML, we have built new positions in ACM Research and ams-OSRAM this quarter, adding to our existing holding in PDF Solutions since launch.”
PDF Solutions, Inc. - June 2026
“PDF Solutions (PDFS) PDF Solutions, a provider of yield analytics and data software for semiconductor manufacturers, returned approximately 52% in the quarter. During May, long-time strategic holder Advantest exited its entire 8% stake through an upsized secondary offering, with PDF selling additional shares alongside to fund general corporate purposes and potential debt reduction. We interpreted the heavily oversubscribed deal as a sign of management taking control of its own destiny, and we used the offering-related weakness to add a full percentage point to the position, funded by a sale of Veeco (VECO) to keep our overall semiconductor www.riverwaterpartners.com 1 QUARTERLY COMMENTARY | June 30, 2026 SMALL CAP STRATEGY exposure in check. Late in the quarter we trimmed a portion of the position after the sharp run, consistent with our practice of harvesting gains in extended semiconductor names.”
PDF Solutions, Inc.
Fund coverage · 1 thesis
PDF Solutions, Inc. enables semiconductor manufacturing efficiency with recurring software revenue, founder-led management, and attractive growth and valuation.
Read the full thesis
Read every full thesis on PDF Solutions, Inc.
Unlock all 1 thesis — the full reasoning behind what funds are buying, plus unlimited access to the entire archive.
View plans→